--- schema_version: "secwatch.filing_event.v1" accession: "0001140361-23-014664" form_type: "8-K" ticker: null cik: "0001160951" company_name: "DUCK CREEK TECHNOLOGIES, INC." filed_at: "2023-03-30T23:59:59+00:00" generated_at: "2026-06-17T08:56:09.761150+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # Vista Equity Partners completes acquisition of Duck Creek for $19/share, $2.6B ## Summary - Acquisition completed at $19.00 per share in all-cash transaction valued at approximately $2.6 billion. - Duck Creek shares ceased trading and will be delisted from Nasdaq Global Select Market. - Board of directors replaced; new directors appointed including Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin, Michael Jackowski. - Parent entered into $650M term loan and $65M revolving credit facility to finance the acquisition. - Company becomes wholly owned subsidiary of Vista Equity Partners. ## SEC filing metadata - accession: 0001140361-23-014664 - form_type: 8-K - cik: 0001160951 - company_name: DUCK CREEK TECHNOLOGIES, INC. - filed_at: 2023-03-30T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/brhc10050562_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001140361-23-014664 - JSON: https://secwatch.observer/filing/0001140361-23-014664.json - Plain text: https://secwatch.observer/filing/0001140361-23-014664.txt ## Key facts - Executive change Maneet Saroya was appointed as Director at DUCK CREEK TECHNOLOGIES, INC.. - Action: appointed - Role: Director source text: all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Executive change Chad Martin was appointed as Director at DUCK CREEK TECHNOLOGIES, INC.. - Action: appointed - Role: Director source text: all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Executive change Jeffrey Wilson was appointed as Director at DUCK CREEK TECHNOLOGIES, INC.. - Action: appointed - Role: Director source text: all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Executive change Jack Dillon was appointed as Director at DUCK CREEK TECHNOLOGIES, INC.. - Action: appointed - Role: Director source text: all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Executive change Michael Jackowski was appointed as Director at DUCK CREEK TECHNOLOGIES, INC.. - Action: appointed - Role: Director source text: all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Governance Changes DUCK CREEK TECHNOLOGIES, INC.: Amended and restated Bylaws. - Change: bylaw amendment source text: the Amended and Restated Bylaws of the Company, as in effect immediately prior to the Effective Time, were amended and restated in their entirety to be in the form of the Bylaws of Merger Sub as in effect immediately prior to the Effective Time (except for provisions with respect to exculpation, indemnification, advancement of expenses and limitation of director, officer and employee (or comparable) liability) (the “ Bylaws ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Governance Changes DUCK CREEK TECHNOLOGIES, INC.: Amended and restated Certificate of Incorporation. - Change: charter amendment source text: the Amended and Restated Certificate of Incorporation of the Company, as in effect immediately prior to the Effective Time, was amended and restated in its entirety to be in the form of the Certificate of Incorporation set forth in Exhibit A to the Merger Agreement (the “ Certificate of Incorporation ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - M&A Transactions DUCK CREEK TECHNOLOGIES, INC. underwent a change of control involving Disco Parent, LLC for $19.00 per share in cash (closed 2023-03-30). - Action: change of control - Counterparty: Disco Parent, LLC - Consideration: $19.00 per share in cash - Closing: 2023-03-30 source text: Creek Common Stock ”) outstanding immediately prior to the Effective Time was automatically cancelled and extinguished and automatically converted into the right to receive $19.00 in cash, without interest (the “ Merger Consideration ”). Pursuant to the Merger Agreement, at the Effective Time: • each award of restricted Duck Creek Common Stock issued under evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Material Agreements DUCK CREEK TECHNOLOGIES, INC. terminated Amended and Restatement Agreement to Credit Agreement with Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A. (effective 2023-03-30). - Action: termination - Agreement: credit facility - Counterparty: Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A. - Effective: 2023-03-30 source text: Concurrently with the closing of the Merger, the Company repaid all loans and terminated all credit commitments outstanding under the Amended and Restatement Agreement to Credit Agreement, dated as of October 22, 2021 (as amended by Amendment No. 1 to Credit Agreement, dated as of November 8, 2022), by and among Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A., as Administrative Agent, Collateral Agent, L/C Issuer and Swing Line Lender, BofA Securities, Inc., Goldman Sachs Bank USA and JPMorgan Chase Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, and the other lenders from time to time party thereto. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm - Material Agreements DUCK CREEK TECHNOLOGIES, INC. entered into Credit Agreement with Alter Domus (US) LLC valued at $650 million term loan facility and $65 million revolving loan facility (effective 2023-03-30). - Action: entry - Agreement: credit facility - Counterparty: Alter Domus (US) LLC - Value: $650 million term loan facility and $65 million revolving loan facility - Effective: 2023-03-30 source text: Parent, as the borrower, and the Company, as a guarantor, entered into that certain Credit Agreement with Alter Domus (US) LLC, as administrative agent and collateral agent, the lenders from time to time party thereto and the guarantors from time to time party thereto (the “ Credit Agreement ”), which provides for (i) a term loan facility in an aggregate principal amount equal to $650 million and (ii) a revolving loan facility in an aggregate principal amount equal to $65 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1160951/000114036123014664/0001140361-23-014664-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.